The board of directors of Public Financial Holdings Limited announced that Tan Sri Datuk Seri Utama Thong Yaw Hong, the Co-Chairman and an Independent Non-Executive Director and an existing member of the Remuneration Committee and Nomination Committee of the company, has been appointed as the Chairman of the Remuneration Committee and Nomination Committee of the company with effect from 29 March 2012. With effect from the same date, Tan Sri Dato' Sri Dr. Teh Hong Piow, the Chairman and a Non-Executive Director of the company, will relinquish his position as the Chairman/member of the Remuneration Committee and Nomination Committee of the company.